Surface Oncology (NASDAQ:SURF) Downgraded by Zacks Investment Research to “Sell”

Surface Oncology (NASDAQ:SURF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Surface Oncology, Inc. is a clinical-stage immuno-oncology company. It develops therapies for the treatment of cancer. The company’s product pipeline includes CD47, CD73, SRF231, SRF373, SRF617, SRF388 and SRF231 which are in clinical stage. Surface Oncology is based in Cambridge, Massachusetts. “

A number of other equities analysts also recently weighed in on SURF. ValuEngine raised Surface Oncology from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Cowen reissued a “buy” rating on shares of Surface Oncology in a research report on Thursday, May 9th.

NASDAQ SURF traded down $0.11 during trading on Tuesday, reaching $2.14. 614 shares of the company’s stock were exchanged, compared to its average volume of 39,692. The firm’s 50 day simple moving average is $2.51. The firm has a market capitalization of $61.85 million, a PE ratio of -6.48 and a beta of 2.38. The company has a quick ratio of 8.77, a current ratio of 8.77 and a debt-to-equity ratio of 0.24. Surface Oncology has a fifty-two week low of $1.95 and a fifty-two week high of $12.65.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in Surface Oncology by 82.5% during the fourth quarter. BlackRock Inc. now owns 1,097,041 shares of the company’s stock worth $4,651,000 after buying an additional 496,072 shares during the last quarter. Northern Trust Corp grew its position in shares of Surface Oncology by 50.3% in the fourth quarter. Northern Trust Corp now owns 119,437 shares of the company’s stock valued at $506,000 after purchasing an additional 39,964 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Surface Oncology by 50.5% in the fourth quarter. Geode Capital Management LLC now owns 116,745 shares of the company’s stock valued at $494,000 after purchasing an additional 39,174 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Surface Oncology by 8.3% in the second quarter. Acadian Asset Management LLC now owns 100,120 shares of the company’s stock valued at $283,000 after purchasing an additional 7,640 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Surface Oncology by 8.3% in the fourth quarter. Bank of America Corp DE now owns 88,773 shares of the company’s stock valued at $376,000 after purchasing an additional 6,795 shares during the last quarter. 58.83% of the stock is currently owned by hedge funds and other institutional investors.

Surface Oncology Company Profile

Surface Oncology, Inc, a clinical-stage immuno-oncology company, engages in the development of cancer therapies. The company develops human immunoglobulin isotype G4 monoclonal antibodies, including SRF231 inhibiting CD47; NZV930 inhibiting CD73; SRF617 inhibiting CD39; and SRF388 targeting interleukin 27.

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